Ensure the Dao has stable funding regardless of market conditions
Currently the Dao has over 349,000 USD value in ETH at the time of writing. https://etherscan.io/address/0xb57ab8767cae33be61ff15167134861865f7d22c The proposal is to move a percentage of the Ethereum assets into stablecoin USDC . API 3 is one such treasury that has USDC in their DAO holdings. As well as others in the top 10 Daos. https://deepdao.io/organizations
It would be a one time emergency action due to uncertainty of the market at this time, and to ensure regardless of market conditions, the team has funds to build, market, and all the requirements of the project.
The vote is for 90% usdc / 10% eth 75% usdc/25% eth 50% usdc/50% eth or don’t do anything
Rather than risk downside which looks likely in the broader markets with multi week downtrends in the SPY and Dow Jones, likely rate hikes by the Fed of 25 basis points and future hikes planned and the uncertainty with the Ukraine Russian war, we PROTECT the DAOS current holdings in USD value by moving a % to stable coin. Rather than risk the DAO losing almost 10 % of its warchest or more if the broader traditional markets test critical levels there, possibly more, we enact this one time emergency measure.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xdC0c...42BD12 | 102 | Do nothing |
 0xa455...20f2c4 | 57 | USDC 50 % ETH 50 % |
 0xA9DA...091F10 | 43 | USDC 50 % ETH 50 % |
 0x60Df...Ef39aB | 36 | USDC 90% ETH 10 % |
 0x6B8E...Ff9Ae8 | 27 | USDC 50 % ETH 50 % |
VOTE POWER
Proposal Status
- Mon March 14 2022, 06:38 amVoting Period Starts
- Tue March 15 2022, 06:22 amEnd Voting Period
Current Results
1-USDC 50 % ETH 50 %
287
2-Do nothing
183
3-USDC 90% ETH 10 %
55